AEW acquires office building in Düsseldorf

AEW acquires office building in Düsseldorf
Image: AEW

Real estate investment and asset manager AEW has purchased the office building Schiessstraße 61 in Düsseldorf on behalf of a fund managed by AEW.

The office building in Düsseldorf is fully leased to several tenants and is located in the popular Linksrheinisch office submarket.

The five-story building, with approximately 4,400 square meters of highly flexible leasable space, was originally built in 1953. A renovation was carried out in 2021, which included modernizing the entrance hall and stairwell and installing energy-saving (LED) lighting. The property is fully leased to several tenants from various industries, including telecommunications and mechanical engineering.

Schiessstraße 61 is well connected in terms of transport. The “Löricker Straße” subway station is located directly opposite the office building and provides a connection to the city center within 15 minutes. In the coming years, the new U81 subway line is also scheduled to open, connecting the site with the airport. Linksrheinisch is a popular location for offices and serves as a hub for the IT and telecommunications industries.

Düsseldorf is the capital of the third largest metropolitan area in the EU, attracting occupiers from international corporations.

Matthieu Samaran, Executive Director of Investments at AEW, commented: “This acquisition is aligned with the fund’s strategy of selectively investing in quality assets in good locations that offer stable returns over the long term. Schiessstraße 61 is fully-let to a diversified tenant base and therefore offers secure, long term income. In addition, we were impressed by the asset’s strong location in the dynamic and emerging area of Linksrheinisch, host to a number of new residential developments, which will see it transformed into a vibrant destination for living and working.”